In an address delivered on state television Thursday, Egyptian President Hosni Mubarak rebuffed rumors that he would relinquish his power and step down from office. Instead, Mubarak insisted he would continue to serve out his term until the election this fall, reaffirming his pledge not to seek re-election at that time.

In the meantime, Mubarak pledged to transfer some of his presidential powers to Vice President Omar Suleiman. In the future, Mubarak also said the Egyptian military will ensure the peaceful transfer of power.

The embattled Egyptian president also seemed to deliver a direct, defiant message to the international community, saying he would ‚Äúnot accept foreign interventions.‚ÄĚw...

"Cairo, Egypt (CNN) -- Egyptian President Hosni Mubarak stepped down Friday and handed over power to the military -- three decades of his iron-clad rule ended by an 18-day revolution.Vice President Omar Suleiman announced the resignation on state television and said the Supreme Council of the Armed Forces will "run the affairs of the country."" (CNN)